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How useful is monetary econometrics in low-income countries? : the case of money demand and the multipliers in Rwanda

Author: David Hauner; C Gabriel Di Bella; International Monetary Fund. African Department,
Publisher: Washington, D.C. : International Monetary Fund, African Dept., ©2005.
Series: IMF working paper, WP/05/178.
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Summary:
This paper revisits the usefulness of econometric monetary analysis in low-income countries in a case study on Rwanda, an interesting case given its floating exchange rate and reliance on indirect monetary policy instruments on the one hand, and its somewhat typical data and institutional shortcomings on the other hand. The findings are generally encouraging for the use of econometric models for monetary analysis in  Read more...
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Genre/Form: Electronic books
Case studies
Additional Physical Format: Print version:
Hauner, David.
How useful is monetary econometrics in low-income countries?
Washington, D.C. : International Monetary Fund, African Dept., ©2005
(OCoLC)62047416
Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: David Hauner; C Gabriel Di Bella; International Monetary Fund. African Department,
OCLC Number: 694141045
Description: 1 online resource (22 pages) : illustrations.
Series Title: IMF working paper, WP/05/178.
Responsibility: prepared by David Hauner and Gabriel Di Bella.

Abstract:

This paper revisits the usefulness of econometric monetary analysis in low-income countries in a case study on Rwanda, an interesting case given its floating exchange rate and reliance on indirect monetary policy instruments on the one hand, and its somewhat typical data and institutional shortcomings on the other hand. The findings are generally encouraging for the use of econometric models for monetary analysis in low-income countries. Notwithstanding substantial qualifications, time series and structural models of the money multiplier and money demand yield results that are statistically and economically reasonable enough to usefully inform policymaking.

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